I did try some cotton tubing back when I first re-wired my tonearm. It was pretty loose in there though, not tightly stuffed. I also tried some thick heatshrink. In both cases I remember the change being very small. Almost borderline psychological. I must say though that my sl1200 back then was pretty much stock, so I probably should do some more testing now that the TT is much improved.
I also briefly worked on a carbon tonearm, but had a problem building a cheap and accurate enough headshell for it. I now have easy access to a cnc laser cutter, so I will probably get back to it at some point. I also want to try the nice and simple linear and unipivot designs out there. But they are low in my long todo list.
Sources: Modified SL1200 MK2, Salas folded RIAA, Phonoclone, VSPS, Shelter 501 MK2, Modified Pioneer P6D6 as transport, Shigaclone transport, Peter Daniel NOS DAC.
Amplification: Custom 211 Monoblocks, Electrocompaniet AW120, Audio Research VS110, Gainclone
Loudspeakers: Tannoy Turnberry, PBN Montana EP Signature
Cables/stands: Tempflex ribbon and Twinax cables
Other: Promitheus Signature Passive Attenuator, Custom JFET - transformer preamp.